On November 5th of 2008 I deposited a $2000 profit sharing loan check that I needed to pay some of my bills. One of these bills being a Bank of America business credit card that had fallen behind due to them cutting off the card for no other reason than than my having "too many open revolving accounts". I then proceeded to mail my bills. A week later, I tried to withdraw money to pay my babysitter, and was told I had no funds available. I called to check my balance, and to my shock and horror, I discovered I was over $800 overdrawn. Suspecting fraud, I called to talk to a representative. I talked to 2 seperate people, and they could not explain what had happened except the second said it appeared to be "internal". The next morning I went to the bank and talked to a vice president. She informed me that Bank of America had taken every penny from my personal account to "offset" this business debt. She called Card Services to try and convince them to return at least some of my money to no avail. I spoke to them and asked why they had to take every single penny, and was simply told, "you shouldn't have fallen behind on your credit card payments...." To add insult to injury, a few days later I get a letter dated November 5th informing me that I had to pay $680 by November 27th or they were going to charge off my account. The next day I get another letter dated November 6th informing me that they had taken all of the money from my personal account but I still owed them much more. If I was only required to pay $680 by the 27th, then why did they take $1850 on the 6th?
? As a result, every check I mailed bounced, I owe well over $1000 in returned check and late fees, and my credit is completely destroyed. The profit sharing loan payments are still being deducted from my paycheck for the next 2 years, but I never saw a penny of it. If not for my family, my son and I would probably be homeless right now. I have since started fresh with a better bank, but have not fully recovered. At last check, my Bank of America count sits over $1400 overdrawn, all returned check fees. I am in the process of filing a lawsuit against Bank of America, but they are such a huge corporation, we are having trouble even finding out where to serve the lawsuit. I would like to know if this has happened to anyone else. Thanks for listening to my rant....
